The software maker's stock soared to an all-time intraday high on Wednesday, reaching $142 per share. And that follows on a steady upward climb since 2017, continuing to thrill many investors as the company beats projections and ratchets up its own targets. (Salesforce's new goal is $20 billion in revenue by 2022, the company said in 2017.) Since the beginning of last year, shares have more than doubled.

"I certainly believe the acceleration in the company's core sales, service, and marketing clouds coupled with the upside of Mulesoft is probably what's driving the stock," said William Blair analyst Bhavan Suri.

Salesforce can't reach its goals alone. Last week, Salesforce rolled out an integrated service with Google's Analytics 360, which lets marketers identify audiences using Analytics 360 and create campaigns in Salesforce's marketing cloud. Essentially combining the two services into one dashboard, the integration was the result of a strategic partnership announced in November 2017 to boost core services and build Salesforce's ability to expand internationally. As part of the alliance, Salesforce also named (GOOGL) Cloud as their "preferred cloud provider."

"This partnership is natural; Salesforce CRM and G Suite together will let teams work more productively. This will all be a big win for our customers and partners," said Google Cloud CEO Diane Greene in a press release at the time.

In March, Salesforce also snapped up Mulesoft, a platform for integrating data across multiple applications, in its largest-ever acquisition at $6.5 billion.

The deal was described by Salesforce CEO Marc Benioff as "radically enhancing innovation" by enabling its customers "to connect all of the information throughout their enterprise across all public and private clouds and data sources."

The two companies had a relationship dating back to at least 2013, when Salesforce made the first of three investments in Mulesoft. Mulesoft went public in March 2017, and Salesforce acquired the software provider one year later to become the backbone of an "integration cloud," a new product offering intended to help Salesforce's customers access and manage data across a myriad of systems more easily. The deal closed in May.

"It isn't driving numbers quite yet, but it should be a driver of strength down the road," noted Macquarie analyst Sarah Hindlian. "It was seeing significant demand from its customers to better ways to manage data."

Salesforce is also rumored to be considering a buyout of Dropbox (DBX) , the file hosting and enterprise software provider. It already owns about 6.45% of Dropbox, and the two companies have integrated their services more deeply this year. Shares of Dropbox have increased a whopping 40% in the last five trading days on speculation of a buyout by Dropbox or others.

For Salesforce, Hindlian notes that inroads into Europe and Asia, where demand for cloud services is growing, may be a driver of continued growth.

"At the end of the day, Salesforce is sitting at a large and important end market, and that helps it grow," she said.